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South Africa Seals Lowest Dollar-Borrowing Costs Yet in Sale
JOHANNESBURG (Capital Markets in Africa) – South Africa achieved its lowest borrowing costs yet for dollar-denominated debt, taking advantage of demand for emerging-market debt to raise $3 billion as rating companies prepare to review the country’s creditworthiness. In its second foray into international debt markets this year, the country sold $2 billion of 12-year notes and $1 billion of 30-year securities with investors in Asia, Europe and the U.S. who placed orders for 2.5 times the amount,…
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